As the average price of home ownership rises across the country, those hoping to enter the housing market for the first time are looking to alternative property types, like mobile homes. However, mobile homes present a unique set of challenges for Realtors, especially those who don’t specialize in the field, says one Victoria Realtor who has been focusing on mobile homes for 20 years.

A report released Tuesday by the Conference Board of Canada that drew attention to the growing income disparity between Gen Yers and their baby boomer parents has some analysts claiming that the wage gap is leading buyers to more cautiously enter the housing market.

The tightest market in years means selling agents are now seeing more and more no-condition offers thrust before clients, but too few are viewing those offers as the red flags they are, caution agents.

The move by another major Canadian university to introduce a real estate-centred program has Realtors divided, with some suggesting it will fail to professionalize an industry where licensing may be too easy to win.

Is your client thinking about building their own home? Will they require any level of financing along the way? Suggest they start at the very beginning with an in-depth project review with their mortgage broker, one that is specifically experienced with construction mortgages. In fact, have this conversation prior to their purchasing the lot if possible.

Construction in the condominium market slipped 3.7 per cent to 192,368 units in August compared to 199,813 in July, according to Canada Mortgage and Housing Corporation (CMHC) in a report release Tuesday.